2023 YTD Financial Recap

For several years the parish Finance Committee has provided a year-to-date financial recap during a Sunday morning forum. The information has been useful in preparation for the fall stewardship campaign. Due to our survey debrief a couple of weeks ago taking that time slot, we are providing the recap in this weekly newsletter.

Saint Anne’s continues to be in a solid financial position due to your generosity and through the efforts of the staff to reduce spending. As of July 31, the church has 2.14 million in cash. This number includes 1.9 million in restricted funds, the largest portion is in our maintenance endowment. Our pledged giving to date is 60% of budget and we have not faced any cash flow issues. Thank you for maintaining your pledges through the summer months! Expenses are below budget, coming in at 53% of the budgeted amount through July. [Click here for our Financial Scorecard]

Although we have a strong balance sheet, we face a challenge in pledge income meeting the needs of the day-to-day operations of Saint Anne’s. This challenge is not insurmountable. Each of the past two years we have increased pledging units and pledging dollars, even as we have bid farewell to many of our long-time and dedicated parishioners. Our stewardship goal is to continue this trajectory and I want to thank you for your ongoing support and generosity.

Last year we paid off the balance of an outstanding debt and are debt free. However, we continue to face challenges of our aging building. Many of our 25 HVAC systems failed this year and more will need to be replaced in the next few years. The beloved stained-glass windows are beautiful assets for our worship space, but many of them remain in need of ongoing repair and maintenance. Currently, we are in the process of replacing the elevator because of its age and the manufacturer no longer make the parts necessary to make repairs. Without an elevator many of our parishioners would be unable to move easily from the church to the parish hall and Sunday school classes. Our grounds, which are rich with trees, have required the removal of many that are diseased and dying and pose a danger to traffic and pedestrians. The list of projects is long. We are fortunate to have a solid building, but the cost of maintenance continues to grow.

In a few weeks we will launch into stewardship for 2024. Although there are many capital needs, our main challenge is keeping up with operations. We need everyone to participate in the pledge campaign and if possible, to step up to the next level (step) in giving.

A word of thanks to our Finance Committee, who under the leadership of interim chair, Bonnie Burgess and with our treasurer, Mike Dunlap continues to faithfully care and provide oversight for the financial needs of Saint Anne’s. If you have gifts and skills to contribute as a member of the committee, please reach out to Bonnie or to me.

Buddy+